- Associated Press - Tuesday, October 26, 2010

SANTA FE, N.M. (AP) - Actor Val Kilmer has dropped the asking price of his New Mexico ranch by $10 million.

The 5,328-acre spread near Santa Fe includes a seven-bedroom, 11-bathroom, 11,573-square-foot house along with guest quarters.

The property went on the market in early 2009 for $33 million, but a Craigslist ad last week lowered the price to $23 million.

Darlene Streit of Santa Fe Realty Partners posted the ad and has the property listed on her website. She says she believes the ranch is priced well and there has been interest.

The ranch borders national forest land and several miles of the Pecos River. It also has more than 10 natural springs and miles of hiking and riding trails.

Streit says the ranch has been a labor of love for Kilmer.

(This version CORRECTS number of bedrooms and bathrooms.)

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